Leerink Partnrs reissued their outperform rating on shares of Cartesian Therapeutics (NASDAQ:RNAC – Free Report) in a research report report published on Tuesday morning, Zacks.com reports. Leerink Partnrs also issued estimates for Cartesian Therapeutics’ FY2027 earnings at ($7.10) EPS.
RNAC has been the topic of several other reports. SVB Leerink initiated coverage on Cartesian Therapeutics in a report on Tuesday. They issued an outperform rating and a $39.00 price target on the stock. HC Wainwright increased their target price on Cartesian Therapeutics from $2.00 to $54.00 and gave the stock a buy rating in a research note on Tuesday. Finally, Needham & Company LLC initiated coverage on shares of Cartesian Therapeutics in a research note on Tuesday, April 9th. They set a buy rating and a $42.00 target price for the company.
Read Our Latest Report on RNAC
Cartesian Therapeutics Stock Up 12.8 %
Cartesian Therapeutics (NASDAQ:RNAC – Get Free Report) last released its quarterly earnings results on Thursday, March 7th. The company reported ($2.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($2.10). Cartesian Therapeutics had a negative return on equity of 58.21% and a negative net margin of 845.01%. The firm had revenue of $8.27 million for the quarter. Analysts predict that Cartesian Therapeutics will post -1.5 EPS for the current fiscal year.
Insider Activity at Cartesian Therapeutics
In other news, Director Timothy A. Springer acquired 21,612 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average price of $16.20 per share, with a total value of $350,114.40. Following the completion of the purchase, the director now directly owns 1,017,228 shares in the company, valued at $16,479,093.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders bought 22,472 shares of company stock worth $365,981. Company insiders own 31.20% of the company’s stock.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in Cartesian Therapeutics stock. Hall Laurie J Trustee purchased a new position in Cartesian Therapeutics, Inc. (NASDAQ:RNAC – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 52,775 shares of the company’s stock, valued at approximately $34,000. Hall Laurie J Trustee owned 0.98% of Cartesian Therapeutics as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 86.95% of the company’s stock.
About Cartesian Therapeutics
Cartesian Therapeutics, Inc, a clinical-stage biotechnology company, engages in the provision of mRNA cell therapies for the treatment of autoimmune diseases. It develops Descartes-08, an autologous anti-BCMA RNA-engineered chimeric antigen receptor T-cell therapy, currently under Phase 2b clinical development for generalized myasthenia gravis, as well as for patients with systemic lupus erythematosus, and myeloma autoimmune basket trials for other autoimmune diseases.
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